New York - Mar 31, 2011 - The Stu Olds Memorial Fund, established to commemorate the former Katz Media Group chief executive officer who passed away in December 2010, has raised more than $450,000 to benefit the mission of the Broadcasters Foundation of America. April 1 would have been his 61st birthday.

Olds was a staunch supporter of the Foundation and served on the board of directors as vice chairman. The Memorial Fund was initiated with a $250,000 donation from Clear Channel Communications and a challenge to the industry to match that figure with individual and corporate contributions.

Donations to the Stu Olds Memorial Fund are being accepted at the Broadcasters Foundation website at www.broadcastersfoundation.org, or by calling 212-373-8250 or emailing info@thebfoa.org.